Question

A bond pays annual interest. Its coupon rate is 10.0%. Its value at maturity is $1,000....

A bond pays annual interest. Its coupon rate is 10.0%. Its value at maturity is $1,000. It matures in 4 years. Its yield to maturity is currently 7.0%. The duration of this bond is _______ years.

4.00

3.05

3.51

3.28

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